Wesbanco Bank Inc. Purchases New Holdings in Ocular Therapeutix, Inc. $OCUL

Wesbanco Bank Inc. purchased a new stake in Ocular Therapeutix, Inc. (NASDAQ:OCUL) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 103,000 shares of the biopharmaceutical company’s stock, valued at approximately $872,000.

Other institutional investors have also recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Ocular Therapeutix by 5.8% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 93,619 shares of the biopharmaceutical company’s stock worth $686,000 after purchasing an additional 5,156 shares in the last quarter. Caxton Associates LLP bought a new position in shares of Ocular Therapeutix in the first quarter valued at $248,000. Creative Planning grew its stake in shares of Ocular Therapeutix by 21.5% in the second quarter. Creative Planning now owns 21,410 shares of the biopharmaceutical company’s stock valued at $199,000 after buying an additional 3,791 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Ocular Therapeutix by 110.8% during the second quarter. JPMorgan Chase & Co. now owns 712,100 shares of the biopharmaceutical company’s stock worth $6,608,000 after buying an additional 374,269 shares during the last quarter. Finally, Prudential Financial Inc. increased its holdings in Ocular Therapeutix by 57.9% during the second quarter. Prudential Financial Inc. now owns 18,700 shares of the biopharmaceutical company’s stock worth $174,000 after buying an additional 6,855 shares during the last quarter. Institutional investors and hedge funds own 59.21% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on OCUL. Chardan Capital increased their price target on shares of Ocular Therapeutix from $21.00 to $23.00 and gave the company a “buy” rating in a research note on Thursday. William Blair restated an “outperform” rating on shares of Ocular Therapeutix in a research note on Monday, March 2nd. HC Wainwright reaffirmed a “buy” rating and issued a $25.00 target price (up from $21.00) on shares of Ocular Therapeutix in a report on Thursday, June 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Ocular Therapeutix in a research note on Tuesday, April 21st. Finally, Robert W. Baird lifted their price target on Ocular Therapeutix from $24.00 to $30.00 and gave the stock an “outperform” rating in a report on Thursday, June 18th. Twelve analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Ocular Therapeutix presently has a consensus rating of “Moderate Buy” and an average target price of $25.11.

Ocular Therapeutix Stock Performance

NASDAQ OCUL opened at $9.84 on Monday. The firm has a 50-day moving average of $9.09 and a 200-day moving average of $9.80. The company has a debt-to-equity ratio of 0.12, a quick ratio of 14.73 and a current ratio of 14.81. The stock has a market cap of $2.15 billion, a PE ratio of -6.74 and a beta of 0.90. Ocular Therapeutix, Inc. has a 52-week low of $6.23 and a 52-week high of $16.44.

Insiders Place Their Bets

In other Ocular Therapeutix news, insider Pravin Dugel sold 21,156 shares of the stock in a transaction dated Tuesday, May 26th. The shares were sold at an average price of $8.20, for a total value of $173,479.20. Following the transaction, the insider directly owned 2,597,170 shares of the company’s stock, valued at $21,296,794. This represents a 0.81% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 28,999 shares of company stock valued at $237,792. 3.10% of the stock is owned by corporate insiders.

Ocular Therapeutix Profile

Ocular Therapeutix, Inc is a biopharmaceutical company dedicated to the development of innovative therapies for diseases and conditions of the eye. Founded in 2011 and headquartered in Bedford, Massachusetts, the company focuses on sustained-release drug delivery platforms designed to address key unmet needs in ophthalmology. Its proprietary hydrogel-based inserts and sealants aim to improve patient compliance and outcomes by providing controlled release of active pharmaceutical ingredients directly to ocular tissues.

The company’s flagship product, DEXTENZA®, is a preservative-free, sustained-release dexamethasone intracanalicular insert approved by the U.S.